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NI private sector ''remains fragile''

18 June 2010
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NI private sector ''remains fragile''Recovery within Northern Ireland''s private sector businesses remains fragile, as new figures show a fall in activity.

However, latest data from Ulster Bank showed the rate of decline is slowing, with levels measuring 47.5 in April this year, up from 47.1 the previous month.

The institution''s Purchasing Managers Index (PMI) - produced by Markit - monitors public sector activity levels in Northern Ireland, with any number above 50 representing expansion and the figures emphasise the need for strategies improving manufacturing processes in the region.

Within the production industry, output improved during the month while manufacturing orders saw their strongest increase since April 2007.

Business sector activity levels have fallen for five months in a row and Ulster Bank chief economist for Northern Ireland Richard Ramsey noted that the region is the only one within the UK that is still witnessing falls in output and unemployment.

"At a sector level, the most marked divergence between NI and the UK continues to be within the service industry," he added.

In related news, figures from Bank of Scotland recently revealed the country''s services industry saw a rise in services sector growth during May.ADNFCR-3058-ID-19846234-ADNFCR
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